About Gold Pricing in New York
New York's COMEX exchange (part of CME Group) is the world's gold price benchmark. The COMEX GC futures contract sets the reference price used by every gold dealer, ETF, miner, and central bank globally. AURUM's live gold price is sourced directly from COMEX data.
The US charges no federal import duty on gold. State sales tax on gold bullion varies — New York state currently exempts investment gold from sales tax. Gold IRA contributions are popular among US investors as a tax-advantaged vehicle.
The Federal Reserve's interest rate policy is the single most important macro driver of gold prices globally. Higher real rates (Fed funds rate minus inflation) = headwind for gold. Lower real rates = gold tailwind. See AURUM's macro signal dashboard for current Fed impact assessment.
Frequently Asked Questions — Gold in New
What is COMEX and why does it matter? +
COMEX (Commodity Exchange) is a division of CME Group operating in New York. The COMEX GC (gold futures) contract is the global benchmark for gold pricing — all other markets price gold relative to COMEX. When you see a gold price anywhere in the world, it derives from COMEX.
Is gold taxed in New York? +
No federal import duty on gold. New York state exempts investment gold bullion from sales tax (effective April 2023 reform). Broker commissions and storage fees apply for managed gold products.
What is a Gold IRA? +
A Gold IRA is a US tax-advantaged retirement account holding physical gold (and other precious metals). Contributions are tax-deductible (traditional) or tax-free on withdrawal (Roth). Annual contribution limits: $7,000 ($8,000 if 50+) for 2026.
How does the Fed affect gold prices? +
Gold competes with yield-bearing assets. When the Fed raises rates, real yields rise, making gold (which pays no yield) less attractive — gold falls. When the Fed cuts or holds rates and inflation is elevated, real yields fall — gold rises. This is the primary macro driver.
Where to buy gold in New York? +
APMEX (online, ships nationwide), JM Bullion, SD Bullion. NYC physical dealers: Manfra Tordella & Brookes (MTB), Midtown Gold Exchange. For IRA: Augusta, Goldco, Birch Gold. SPDR Gold Shares (GLD) ETF for paper gold exposure.